Victoria's Secret & Co. (VSCO) Misses Q1 EPS by 26c, Guidance Misses Consensus

Victoria's Secret & Co. (NYSE: VSCO) reported Q1 EPS of $0.28, $0.26 worse than the analyst estimate of $0.54. Revenue for the quarter came in at $1.41 billion versus the consensus estimate of $1.42 billion.

GUIDANCE:

Victoria's Secret & Co. sees Q2 2024 EPS of $0.10-$0.40, versus the consensus of $0.88.

• The Company has updated its full year forecast to reflect first quarter results and recent trends in the business and is now forecasting full year 2023 net sales to be in the range of flat to down low-single digits compared to last year’s net sales of $6.344 billion. At this forecasted level of sales, we expect the adjusted operating income rate for the full year 2023 to be in the range of 5% to 6%.
• The Company is forecasting second quarter 2023 net sales to decrease in the mid-single digit range compared to last year’s second quarter net sales of $1.521 billion. At this forecasted level of sales, adjusted operating income for the second quarter of 2023 is expected to be in the range of $35 million to $65 million. Adjusted net income for the second quarter of 2023 is estimated to be in the range of $0.10 to $0.40 per diluted share.

For earnings history and earnings-related data on Victoria's Secret & Co. (VSCO) click here.

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